The major reason for ANIK not being a $15 (or even $20) stock right now is due to a total lack of marketing effort and success of the Mikek division of JNJ. In 2004 JNJ paid $20MIL to ANIK for marketing rights to Orthovisc. First they bumbled it by putting the product in their Orthobiotech division that hardly sold any product. In 2005 they shifted it to Mitek who screwed up by failing to get a J code (this is their fault!). They keep telling management that they are adding more people to the sales and support area but this is apparently not true. I believe that they are either incompetent in generating sales or just do not care.
What can we do? Suggest you contact a Othopod in your area, ask them if they are using Orthovisc or know of it, then find out if they are listed on the Orthovisc site. I have found that the Mitek rep in this area is not actively promoting Orthovisc and local doctors use Synvisc as their product of choice.
If you find out what I have, call Anika and tell them. At a minimum they should put pressure on JNJ or try and sever their contract and find a new marketing partner. It is amazing to me to find out that the most rapidly growing product is Supartz marketed by Smith & Nephew. They have a 5 shot treatment that lasts 3 months as compared to Anik 3 shot treatment that lasts over 6 months.
Hopefully pressure on JNJ will push things in the right direction.
Well, I put in my zip code on the OrthoVisc site and..... I live North of San Francisco. The first time I hit Go, it said there were no DRs in my area. The next submittal said the nearest DR was 60 miles away on the South side of SF. It doesn't list any DRs in SF at all, only listing four for the entire Bay Area (over 1M pop). The next closest DR is in Seattle, 600 miles North. Putting in the main zip code for Los Angeles (90021) shows NO DRs in the Los Angeles area - it shows the same as when I put in any Northern CA codes. It lists about 100 doctors progressively farther away from whatever zip code you put in - some as far as 2400 miles away.
My conclusion is either someone isn't maintaining the website, or again, Mitek isn't doing their job.
Would you sell a product to a Medicare patient if you not gonna get paid? Of course not. You would use the product that has a history of payment with least effort. Thats the problem Ortho and Mitek facing. I have resigned myself to the fact we gonna stay below 5% mkt share thru remainder of 2006. Mitek gonna have to sell Ortho to doctors who treat cash patients and foreigners. In 2007 rules gonna change and then I believe we gonna see strong market share growth from the premier HA product IMO. Only 7 months to go. I LOVE MY ANIK!